Economy
Who’s Economy?
This latest article in PBN speaks of the “economy” as if it were some sort of living creature effecting anyone and everyone and is beyond their control. I continue to maintain that “economy” is a state of mind, and that everyone has his or her own economy.
The word economy can be traced back to the Greek word oikonomos, “One who manages a household.” Note the word “One” in here. Each person must “manage” his or her own economy. Managing one’s economy does NOT mean NOT spending money. I often times see people “cut here” and “cut there” until they cut their own throats.
Dead Sea in Israel
The reason the Dead Sea is dead is because there is no outlet. A live body of water has both an inlet and an outlet for water to flow. So must a business. I think of it as “Dollars Incoming” and “Dollars Outgoing”. You bring about what you think about, so think more about your dollars incoming than you do your dollars outgoing and your business will thrive. To quote my father, “Volume will make up for a multitude of sins”. Being a bit “sinful” with money, I have always put strong emphasis on the incoming side of my business, and it has worked. My economy is just fine. I hope that yours is too.
March 12th, 2008 at 11:10 am
Ron is the eternal optimists. We need more people like him out there.
March 14th, 2008 at 3:26 pm
Hey Mr. Martin;
Optimissm may be nice, but realism is where I am at. My store traaffic is down, my average sale is down, my total sales are way down, my bank account is down, and my staff is depressed. Add it all up, and I’m down! If you could fix the problem here they would call you a miracle worker. I am ready to get a paying job somewhere and rid myself of this pressure.
PS
TT stands for “Troubled Times”.
March 14th, 2008 at 5:00 pm
The picture of the Dead Sea is amazing!
If your store is dead, play some great music there and count your blessings. There have been ten recessions since the Depression and they lasted no more than ten months. The economy is just resetting itself.
Try to get a great party vibe going in your store and have fun, so much so that it is contagious. I don’t know what you sell but announce five minute sales. People are shopping for bargains. I just bought two dresses on sale, and one at full price. Think outside the box and see what works. What have you got to lose? Have your salespeople converse and not try to sell something and look all mopey. People don’t want to be sold to, they want help and a great experience. Create fun! Have a singing competition, a fashion show. Get the few customers involved. I sell better when up against the wall, because I do nutty things to engage people and get them to like me and then they like what I am selling too and buy.
I am just trying to help. I used to sing and attract people who just wanted to tell me how much they enjoyed my voice, and then the next thing they knew they were spending money on the shop’s merchandise. Making people laugh with me was another way to get them to spend money. You already may be doing this, but in case you aren’t…go for it. Let me know if it works. Just try to make conversation, ask them questions, show them what would look good on them while you are asking them anything that pops into your head. People are buying, maybe not as much. Worrying won’t help. Make each workday an event.
March 15th, 2008 at 10:07 am
I think that “TT” stands for “Timebomb Ticking”. This guy is doomed by his own attitude. “Runaway” has some great ideas here, but I would bet the farm that they fall of deaf ears for TT.
March 15th, 2008 at 10:08 am
If I were to start singing in front of my store people would head for the hills.
March 31st, 2008 at 8:07 am
With Consumer confidence at a 17 year low and the news filled with so much economic “Gloom & Doom”, I thought it would be a good time for some good news and our optimistic market forecast. I am looking for a turn-around in the later half of 2008 starting in June. Currently the sub-prime mortgage and credit crises is now out in the open and the market is pricing this in. I see a little more downside before June but then a strong bullish up-trend should emerge. This is based on the technical analysis we teach in the ART® 4-Week Home Study Course. In addition, when things look the worse like they do now in the financial markets, it usually signals the time for a turn-around.
So hang in there, better times are coming…..
Warm Regards,
Bennett McDowell, CEO TradersCoach.com®
Creator of the Applied Reality Trading® - ART®